Adaptive Biotechnologies (NASDAQ:ADPT) Insider Susan Bobulsky Sells 1,875 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Susan Bobulsky sold 1,875 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $32.00, for a total transaction of $60,000.00. Following the transaction, the insider owned 387,475 shares in the company, valued at $12,399,200. This represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Susan Bobulsky also recently made the following trade(s):

• On Tuesday, October 6th, Susan Bobulsky sold 6,444 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $30.00, for a total value of $193,320.00.
• On Tuesday, September 15th, Susan Bobulsky sold 1,195 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $27.00, for a total transaction of $32,265.00.

Adaptive Biotechnologies Stock Down 1.5%

ADPT traded down $0.44 during midday trading on Friday, reaching $29.04. The company’s stock had a trading volume of 2,063,725 shares, compared to its average volume of 2,197,728. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -64.53 and a beta of 2.18. The company has a current ratio of 3.97, a quick ratio of 3.87 and a debt-to-equity ratio of 1.82. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $32.21. The stock’s 50-day moving average is $26.91 and its 200-day moving average is $20.13.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.12. The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $71.57 million. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, research analysts expect that Adaptive Biotechnologies Corporation will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently modified their holdings of ADPT. Arizona State Retirement System raised its position in shares of Adaptive Biotechnologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock valued at $684,000 after purchasing an additional 416 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Adaptive Biotechnologies by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock worth $205,000 after buying an additional 941 shares during the period. Gibbs Wealth Management boosted its holdings in Adaptive Biotechnologies by 4.6% in the 3rd quarter. Gibbs Wealth Management now owns 26,900 shares of the company’s stock worth $777,000 after buying an additional 1,191 shares during the period. Assetmark Inc. boosted its holdings in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after buying an additional 1,401 shares during the period. Finally, Nykredit A S purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth $31,000. 99.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research reports. TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday, October 15th. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. BTIG Research lifted their price objective on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Finally, Piper Sandler lifted their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.31.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.